Canadian Imperial Bank of Commerce (NYSE:CM) Lowered to "Sell" Rating by StockNews.com

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Wednesday.

CM has been the subject of a number of other reports. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $0.18 during trading on Wednesday, reaching $63.54. 46,988 shares of the company's stock were exchanged, compared to its average volume of 1,107,063. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $67.45. The company has a market cap of $59.74 billion, a P/E ratio of 11.87, a PEG ratio of 1.62 and a beta of 1.06. The firm's 50-day moving average price is $58.11 and its 200 day moving average price is $61.60.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock valued at $2,491,431,000 after purchasing an additional 749,843 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after acquiring an additional 851,164 shares during the period. Toronto Dominion Bank grew its holdings in Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock worth $1,398,619,000 after purchasing an additional 234,088 shares during the period. FIL Ltd increased its stake in Canadian Imperial Bank of Commerce by 53.6% in the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank's stock valued at $679,613,000 after purchasing an additional 115,884 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.